Bankruptcy

How To Determine Whether a Bankruptcy Is the Right Solution, the Only Solution, or the Wrong Solution in Arizona

By Joseph McDaniel, Esq.

But many potential debtors anguish, and vacillate, and become subject to the paralysis of analysis, or the seductive power of hope in an impossible miracle economic salvation, and therefore wait waaaaay too long to start finding their own Arizona bankruptcy attorney.

The consequences of waiting far too long can be simply awful, including throwing away all your retirement savings on credit card debt, which is close to crazy as a bedbug (sorry to be so blunt, but it really is).

The analysis is really pretty simple, sometimes.

Do you pay credit cards out of exempt 401(k) or other retirement funds, or are you considering such a move?

Are you being sued by a credit card company, or are you being sued by a bank, or are you being sued on a second mortgage that's underwater?

Are you, for heaven's sake, being garnished after a judgment was taken against you?

Was your car repossessed?

Will you 327 years old before you're debt-free if you keep paying your current credit card debts at the current interest rate with the current payment level? Check with a free online debt calculator, and see how long it will be. 30 years, by the way, is too long. You won't make it. Trust me on this one.

Is your house the subject of a trustee's sale in Arizona?

Has the credit card company cut your limits and increased your interest rate to usurious rates that you can never pay?

In any of those situations, run, don't walk, for a consultation with an experienced, board certified, AV rated, AVVO 10 bankruptcy lawyer in Arizona, or wherever you may be. Check all their client reviews before you call any lawyer. No client reviews? Keep moving.

The time is long past for anguish, vacillation and the paralysis of analysis.

You're done. Turn off the burner, you've simmered long enough.

NOTHING HERE CONSTITUTES LEGAL ADVICE RE A CHAPTER 7, CHAPTER 13, CHAPTER 11, OR CHAPTER 12. FIND AN ARIZONA BANKRUPTCY LAWYER WHO IS BOARD CERTIFIED IN BANKRUPTCY LAW, AV RATED, AVVO 10 RATED, ON SUPERLAWYERS, OR JUST VERY EXPERIENCED AND A FORMER CHAIR OF SOME BANKRUPTCY SECTION OR COMMITTEE. NOTHING HERE MAY BE USED AS LEGAL ADVICE IN CONNECTION WITH ANY BANKRUPTCY, WHETHER THAT BANKRUPTCY IS IN PHOENIX, GLENDALE, TEMPE, MESA, SCOTTSDALE, OR ANYWHERE ELSE.

Full post as published by Arizona Bankruptcy Attorney Blog on June 05, 2010 (boomark / email).